Download or read book Venture Capital and the Finance of Innovation written by Andrew Metrick and published by John Wiley and Sons. This book was released on 2011-06-15 with total page 1153 pages. Available in PDF, EPUB and Kindle. Book excerpt: This useful guide walks venture capitalists through the principles of finance and the financial models that underlie venture capital decisions. It presents a new unified treatment of investment decision making and mark-to-market valuation. The discussions of risk-return and cost-of-capital calculations have been updated with the latest information. The most current industry data is included to demonstrate large changes in venture capital investments since 1999. The coverage of the real-options methodology has also been streamlined and includes new connections to venture capital valuation. In addition, venture capitalists will find revised information on the reality-check valuation model to allow for greater flexibility in growth assumptions.
Download or read book Venture Capital and the Finance of Innovation written by Andrew Metrick and published by John Wiley & Sons. This book was released on 2021-04-13 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: An invaluable resource for current and aspiring technology investors, Venture Capital and the Finance of Innovation provides an in-depth understanding of the tools and models needed to succeed in this competitive and highly fluid business environment. Building on a comprehensive introduction to fundamental financial and investment principles, the text guides the reader toward a robust skill set using enterprise valuation and preferred stock valuation models, risk and reward, strategic finance, and other concepts central to any venture capital and growth equity investment. Two features of the book stand out from other sources on the subject. First, it pays special attention to the enterprise valuation methodology for high-growth companies. What drives the value of a company that has little physical assets, losing money now but has a small chance of achieving great success in several years? How do you create estimates for sales, profit and return on capital when little data is available? The book answers these questions using a discounted cash flow model that is tailor-made for technology companies (DCF.xlsx downloadable from the instructor website), and the comparables model. Second, it highlights the most valuation-relevant feature of VC term sheets, namely the use of convertible preferred stock. The book shows the reader how to use a user-friendly and automated valuation model of VC preferred stock (available at www.vcvtools.com) to value various types of preferred stock and to visualize how term sheets split the values of the firm between entrepreneurs and VCs. Accessible, comprehensive, and assuming only basic knowledge of venture capital, this text offers essential guidance for successful VC and growth equity investing in any market.
Download or read book Venture Capital and the Financing of Innovation written by Bernard Guilhon and published by John Wiley & Sons. This book was released on 2020-02-05 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: The funding of innovative projects that are fundamentally ambiguous often leads to situations where decision-making is difficult. However, decision-making can be improved by practices such as syndication and step-by-step funding. The dynamic of this industry requires us to consider the economic and institutional variables that make this system coherent in English-speaking countries, but conversely reduce it to a privileged niche by the leading authorities in Europe and France. This book proposes two guiding ideas. The first idea presents innovation as a very uncertain process. This modifies the decision-making in the entrepreneurial ecosystem, with intervention upstream in regards to stronger foundations, evaluations and selection of projects. The second idea is that the actors hold onto partial knowledge in a context where their attention span is limited. These cognitive limitations need the formation of networks, and lead to mutual and complementary dependency relations.
Download or read book VC written by Tom Nicholas and published by Harvard University Press. This book was released on 2019-06-03 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: From nineteenth-century whaling to a multitude of firms pursuing entrepreneurial finance today, venture finance reflects a deep-seated tradition in the deployment of risk capital in the United States. Tom Nicholas’s history of the venture capital industry offers a roller coaster ride through America’s ongoing pursuit of financial gain.
Download or read book Financing Life Science Innovation written by A. Styhre and published by Springer. This book was released on 2015-04-21 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financing Life Science Innovation reviews the literature on venture capital, corporate governance, and life science venturing and presents a study of the Swedish life science industry and the venture capital investors being active in financially and managerially supporting life science start-up firms.
Download or read book How To Raise A Venture Capital Fund written by Winter Mead and published by . This book was released on 2021 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite all of the writing on venture capital, there is a missing part of the literature. There has been no book written about raising a venture capital fund. It remains a secret to a few privileged venture capitalists who have gone through this fundraising process. Until now . . . This book serves as a guide. It dives into the process of raising a venture capital fund, the how-tos, the unique language of the limited partner (LP) world, secrets of how LPs think about fund diligence and alignment, the best practices in fundraising, what works, and how you can best prepare for success. I've written this book after spending a decade investing into venture capital funds at a $30B wealth management firm and a $160B technology company. I've been on both sides of the table, the VC and the LP side. I've been behind the scenes managing every aspect of the fundraising process, investing into 80 funds, and reviewing thousands of fund investments. I also co-founded a company that specifically focuses on co-building venture capital businesses, which includes helping VCs understand the intricate dynamics of raising a venture capital fund. After reading my book, you will gain the knowledge and insights gained from these experiences.
Download or read book How Venture Capital Works written by Phillip Ryan and published by The Rosen Publishing Group, Inc. This book was released on 2012-07-01 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explanations to the inner workings of one of the least understood, but arguably most important, areas of business finance is offered to readers in this engaging volume: venture capital. Venture capitalists provide necessary investment to seed (or startup) companies, but the startup is only the beginning, there is much more to be explored. These savvy investors help guide young entrepreneurs, who likely have little experience, to turn their businesses into the Googles, Facebooks, and Groupons of the world. This book explains the often-complex methods venture capitalists use to value companies and to get the most return on their investments, or ROI. This book is a must-have for any reader interested in the business world.
Download or read book The Oxford Handbook of Venture Capital written by Douglas Cumming and published by Oxford University Press. This book was released on 2012-04-20 with total page 1056 pages. Available in PDF, EPUB and Kindle. Book excerpt: Venture capital (VC) refers to investments provided to early-stage, innovative, and high growth start-up companies. A common characteristic of all venture capital investments is that investee companies do not have cash flows to pay interest on debt or dividends on equity. Rather, investments are made with a view towards capital gain on exit. The most sought after exit routes are an initial public offering (IPO), where a company lists on a stock exchange for the first time, and an acquisition exit (trade sale), where the company is sold in entirety to another company. However, VCs often exit their investments by secondary sales, wherein the entrepreneur retains his or her share but the VC sells to another company or investor buybacks, where the entrepreneur repurchases the VC`s interest and write-offs (liquidations). The Oxford Handbook of Venture Capital provides a comprehensive picture of all the issues dealing with the structure, governance, and performance of venture capital from a global perspective. The handbook comprises contributions from 55 authors currently based in 12 different countries.
Download or read book Venture Capital and the Financing of Innovation written by Bernard Guilhon and published by John Wiley & Sons. This book was released on 2020-01-09 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: The funding of innovative projects that are fundamentally ambiguous often leads to situations where decision-making is difficult. However, decision-making can be improved by practices such as syndication and step-by-step funding. The dynamic of this industry requires us to consider the economic and institutional variables that make this system coherent in English-speaking countries, but conversely reduce it to a privileged niche by the leading authorities in Europe and France. This book proposes two guiding ideas. The first idea presents innovation as a very uncertain process. This modifies the decision-making in the entrepreneurial ecosystem, with intervention upstream in regards to stronger foundations, evaluations and selection of projects. The second idea is that the actors hold onto partial knowledge in a context where their attention span is limited. These cognitive limitations need the formation of networks, and lead to mutual and complementary dependency relations.
Download or read book Financing Entrepreneurship and Innovation in Emerging Markets written by Lourdes Casanova and published by Academic Press. This book was released on 2017-11-17 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financing Entrepreneurship and Innovation in Emerging Markets offers an original perspective on the links between macro data on innovation, data on micro-entrepreneurial processes and venture capital supply. The authors synthesize two disparate fields of research and thinking—innovation and entrepreneurship and economics—to illuminate how domestic companies compete and the business environment in which entrepreneurial firms operate. Its broad scope and firm linkages between processes at different levels leapfrogs research topics. For those investigating entrepreneurship and innovation in the early stages of economic development, this book demonstrates how micro and macro foundations of productivity, and hence economic growth and development, are inextricably intertwined. Combines macro and micro perspectives on innovation processes Reveals how economic growth and development are inextricably intertwined Uses case studies to portray the entrepreneurial firm and its role in accelerating the speed of innovation and dissemination of new technologies Identifies common flaws undermining public venture programs, including poor design, a lack of understanding for the entrepreneurial process and implementation problems
Download or read book Economics of Research and Innovation in Agriculture written by Petra Moser and published by University of Chicago Press. This book was released on 2021-10-08 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The challenges facing agriculture are plenty. Along with the world's growing population and diminishing amounts of water and arable land, the gradual increase in severe weather presents new challenges and imperatives for producing new, more resilient crops to feed a more crowded planet in the twenty-first century. Innovation has historically helped agriculture keep pace with earth's social, population, and ecological changes. In the last 50 years, mechanical, biological, and chemical innovations have more than doubled agricultural output while barely changing input quantities. The ample investment behind these innovations was available because of a high rate of return: a 2007 paper found that the median ROI in agriculture was 45 percent between 1965 and 2005. This landscape has changed. Today many of the world's wealthier countries have scaled back their share of GDP devoted to agricultural R&D amid evidence of diminishing returns. Universities, which have historically been a major source of agricultural innovation, increasingly depend on funding from industry rather than government to fund their research. As Upton Sinclair wrote of the effects industry influences, "It is difficult to get a man to understand something when his salary depends upon his not understanding it." In this volume of the NBER Conference Report series, editor Petra Moser offers an empirical, applied-economic framework to the different elements of agricultural R&D, particularly as they relate to the shift from public to private funding. Individual chapters examine the sources of agricultural knowledge and investigate challenges for measuring the returns to the adoption of new agricultural technologies, examine knowledge spillovers from universities to agricultural innovation, and explore interactions between university engagement and scientific productivity. Additional analysis of agricultural venture capital point to it as an emerging and future source of resource in this essential domain"--
Download or read book Mission Oriented Finance for Innovation written by Mariana Mazzucato and published by Rowman & Littlefield. This book was released on 2015-03-06 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of the state in modern capitalism has gone beyond fixing market failures. Those regions and countries that have succeeded in achieving “smart” innovation-led growth have benefited from long-term visionary “mission-oriented” policies—from putting a man on the moon to tackling societal challenges such as climate change and the wellbeing of an ageing population. This book collects the experience of different types of mission-oriented public institutions around the world, together with thought-provoking chapters from leading economists. As the global debate on deficits and debt levels continues to roar, the book offers a challenge to the conventional narrative—asking what kinds of visionary fiscal policies we need to help promote "smart” innovation-led, inclusive, and sustainable growth.
Download or read book Better Venture written by Erika Brodnock and published by Holloway, Inc.. This book was released on 2020-11-11 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: Better Venture is a first-of-its-kind guide to diversity and inclusion in startups and venture capital—who funds, who gets funded, and how the industry can change. The industry’s lack of diversity and inclusion not only compromises moral standing—it means overlooking profitable businesses and talented founders. That costs hundreds of millions of dollars a year, and neglects ideas that could serve the needs of many more people. In this collection of interviews, stories, and research, we use the momentum that has been building in recent years to expand the conversation about DEI, venture capital, and the startup ecosystem, and to inspire more concrete action. Highlights: - 43 in-depth conversations with leading investors, entrepreneurs, and researchers, making it one of the most comprehensive and diverse sets of perspectives on the startup ecosystem ever assembled in one place. - An economic history of venture capital through a diversity lens. - On-the-ground stories from founders and VCs that explore ways to create a more diverse, inclusive, equitable, and profitable venture ecosystem. No blog post can give the deep understanding and vision needed to address the complexity of the topic. That’s why we came together to write this book and are bringing in so many voices to clarify the picture of what is and what could be. Over the course of two years of research and discussion with almost 100 experts, we set out to answer four questions: - Why has the industry been so slow to change? We map the economic origins and history of venture capital to understand how the economics of VC has contributed to the glacial pace of diversifying the industry. - What barriers are founders and investors facing now? We draw on contributions from investors, operators, founders, and journalists to help catalog the barriers for founders seeking funding, and for investors seeking entry and influence in the industry. - Can diversity really lead to higher returns? We bring in new research and data to help us understand how betting on underrepresented founders and investors is really the better venture. Why does diversifying the industry matter, and to whom? How is it linked to financial performance and better decision making? How will it improve innovation across industries? - What can be done for positive change? We discuss cost effective and evidence-based interventions, tools, and solutions that can help to make the VC and startup worlds more diverse and inclusive—and result in higher returns. We hope this book and the conversations it contains help fulfill the vision of a more diverse, inclusive, and profitable ecosystem. It’s time venture got better.
Download or read book The Venture Capital Cycle written by Paul Alan Gompers and published by MIT Press. This book was released on 2004 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analysis of the venture capital process, from fund-raising through investing to exiting investments; a new edition with major revisions and six new chapters that reflect the latest research.
Download or read book Doing Capitalism in the Innovation Economy written by William H. Janeway and published by Cambridge University Press. This book was released on 2012-10-08 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: A unique insight into the interaction between the state, financiers and entrepreneurs in the modern innovation economy.
Download or read book The Role of Innovation and Entrepreneurship in Economic Growth written by Michael J Andrews and published by University of Chicago Press. This book was released on 2022-03-17 with total page 633 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Innovation and entrepreneurship are ubiquitous today, both as fields of study and as starting points for conversations among experts in government and economic development. But while these areas on continue to attract public and private investments, many measurements of their resulting economic growth-including productivity growth and business dynamism-have remained modest. Why this difference? Because not all business sectors are the same, and the transformative gains of some industries have been offset by stagnation or contraction in others. Accordingly, a nuanced understanding of the economy requires a nuanced understanding of where innovation and entrepreneurship occur and where they matter. Answering these questions allows for strategic public investment and the infrastructure for economic growth.The Role of Innovation and Entrepreneurship in Economic Growth, the latest entry in the NBER conference series, seeks to codify these answers. The editors leverage industry studies to identify specific examples of productivity improvements enabled by innovation and entrepreneurship, including those from new production technologies, increased competition, new organizational forms, and other means. Taken together, the volume illuminates whether the contribution of innovation and entrepreneurship to economic growth is likely to be concentrated, be it selected sectors or more broadly"--
Download or read book Entrepreneurial Finance written by Luisa Alemany and published by Cambridge University Press. This book was released on 2018-09-27 with total page 647 pages. Available in PDF, EPUB and Kindle. Book excerpt: Timely, practical, comprehensive manual for financing entrepreneurial ventures, with a strong European perspective.
